Both Rep. Emmer and Paul Jossey fear that a CBDC issued directly to U.S. residents is more likely to be a tool used to invade privacy than it is a tool that creates a more efficient economy.
The letter is framed around questions following the comments of Chairman Jerome Powell, which seek to explore the rationale behind the Fed’s approach to digital assets more broadly.
Leading advocates in Congress, Rep. Tom Emmer and Rep. Darren Soto re-introduce the Blockchain Regulatory Certainty Act in a bid to shore up the rules for blockchain and digital currency firms.
The Safe Harbor for Taxpayers with Forked Assets Act seeks to protect taxpayers that own forked assets from any penalties and fees that the IRS may try to impose on them for holding those assets.
Tom Emmer has re-introduced a bill that would protect digital currency traders from money transmission laws.